Business Bank Account for Freelancers 2026 - Requirement, When to Separate Business from Personal

TL;DR - Business Bank Account for Freelancers in Short

• Business account requirement: NO for sole traders (OSVC), YES for limited companies (s.r.o.). You can use a personal account, but we recommend separating it for cleaner bookkeeping
• VAT payers must report to the tax office the account on which they want to receive excess VAT deductions (form submitted at VAT registration)
• Reporting the account to the tax office: accounts for VAT transactions in MOJE dane under "Registration" then "Bank accounts"
• Cheapest accounts in 2026: Fio Business Account (0 Kc), mBank mKonto Business (0 Kc if conditions met), Air Bank Account for Entrepreneurs
• Most features: KB MujPodnik, CSOB ParaBusiness (more fees, but better B2B services)
• Cash transaction limit: transactions above 270,000 Kc must be cashless (law limiting cash payments)
• Accounting integration: Fio, Air Bank, KB and CSOB all have good APIs; Dativery bridges 10+ banks

Does a Czech Freelancer Need a Business Account?

Short answer: NO. As a freelancer (OSVC), you can legally use a personal bank account for your business. Unlike an s.r.o., where separating business assets is mandatory, there's no such requirement for sole traders.

However, we recommend a business account for these reasons:

1. Tax records - the bank separates business income and expenses from personal ones, making bookkeeping much easier
2. VAT payers - if you're a VAT payer, the account used for VAT transactions must be reported to the tax office (simpler to have a dedicated account)
3. Cash limit - transactions above 270,000 Kc must be cashless, so a bank account is essential
4. Professional image - an IBAN with your business ID on invoices looks more credible than a personal account
5. Accountant and auditor - it's much easier to hand over statements without needing to mask personal transactions

Obligation to Report Your Account to the Tax Office (VAT Payers)

Under Section 96 of the VAT Act:

• A VAT payer must report to the tax office the account on which they receive payments for taxable transactions
• Reporting is done via a form in MOJE dane under "VAT payer registration" or "Change of registration details"
• If the tax office does not have your account on record, it will not transfer your excess VAT deduction (the money gets stuck)
• You can have several reported accounts (for example, a business account and a personal one)

If you are not a VAT payer, there is no obligation to report your account, you can receive payments to any account you like.

Cash Payment Limit - 270,000 Kc

Under Act No. 254/2004 Coll. on the restriction of cash payments:

• Above 270,000 Kc in a single transaction, or a set of transactions between the same parties within one day, payment must be cashless
• Between 2003 and 2024 the limit was lower, and since 1 January 2024 it has been 270,000 Kc
• This applies to fees for work, invoices, purchases, and loans as well

In other words, if you take on larger contracts, you need an account for the client to transfer the money into. Invoices above 270,000 Kc paid in cash can result in a fine from the tax office.

Bank Comparison for Freelancers 2026

For the smallest freelancers (free accounts)

Bank	Account	Fee	Pros	Cons
Fio banka	Business Account	0 Kc	No conditions, instant transfers, good internet banking, good API for accounting	Few branches and ATMs, no extra perks
mBank	mKonto Business	0 Kc	Free if under the limits, own payment card	Less known for business, limited branches
Air Bank	Account for Entrepreneurs	0 Kc (with turnover of 25,000/month)	Great app, modern UX	Fee applies without sufficient turnover

For medium-sized freelancers (paid accounts with more features)

Bank	Account	Fee/month	Pros	Cons
KB	MujPodnik	~ 200-300 Kc	Established, many branches, B2B services	Higher fees
CSOB	ParaBusiness	~ 200-300 Kc	Large bank, business advisor	Higher fees
Raiffeisenbank	eAccount Business	~ 150-250 Kc	Good forex rates, international payments	Less popular among freelancers
MONETA	Business Account	~ 100-200 Kc	Good modern app	Smaller bank

For VAT payers with OSS / international transactions

• Revolut Business - multi-currency account, cheap international payments (a Wise alternative)
• Wise (TransferWise) Business - multi-currency, real exchange rates, EUR and USD accounts
• Often combined with a Czech bank: Wise for EU/US clients plus Fio for domestic (CZ) transactions

Integration with Accounting Software

The main criterion for DokladBot users: does the bank have an API for automatic transaction import?

Bank	Direct API	Via Dativery	Auto-import of transactions
Fio	Yes, FioToken API	Yes	Yes
KB	No	Yes	Yes
CSOB	No	Yes	Yes
Air Bank	No	Yes	Yes
MONETA	No	Yes	Yes
Raiffeisenbank	No	Yes	Yes
mBank	No	Yes	Yes
Wise	API	No	Yes (via API)
Revolut	API	No	Yes (via API)

Recommendation: if you don't have a clear favorite already, choose Fio (free plus the best accounting API) or Air Bank (free with sufficient turnover plus a modern app).

How to Open an Account as a Freelancer

Frequently Asked Questions

Can I have more than one business account?

Yes, there is no limit. Freelancers often combine:

• A main account (Fio) for domestic Czech income
• Wise or Revolut for international clients
• A savings account set aside for tax reserves

If you're a VAT payer, report all of them in MOJE dane.

What if I use my personal account?

It's legal, but:

• As a VAT payer, you cannot receive an excess VAT deduction into an unreported personal account
• Your accountant will need to filter out personal transactions, which makes their work more expensive
• Some banks restrict business activity on personal accounts under their terms of service

Recommendation: keep them separate. Setting up a free business account only takes about 10 minutes.

Is Wise worth it for invoicing in EUR or USD?

For international clients, yes. Wise offers:

• A multi-currency account (holding USD, EUR, GBP, and CZK)
• Real exchange rates with no bank markup
• Cheap international transfers (compared to 200-500 Kc per payment at traditional banks)
• IBANs for Czech, EUR, and GBP clients

Note: free transfers are limited; fees apply above that. Calculate what works for your transaction volume.

How does a bank help with tax record-keeping?

Banks export PDF statements as well as XML and CSV statements. Accounting software (Pohoda, Money S3) imports these and matches them against invoices. DokladBot does this automatically for you via the Dativery integration or a direct API (Fio).

How much does an incoming international payment cost?

Typically 200-500 Kc at a traditional Czech bank, versus 0 Kc with Wise or Revolut (up to the free limit). If you have clients in the US or EU, Wise is worth using.

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